New Ignite Technology Transfer Office at NUI Galway
Monday, 3 March 2008
The team will build on existing technology transfer activities at the University, with a focus on the early stage identification and protection of intellectual property (IP), technology marketing, technology valuation and technology commercialisation. The new entrepreneurial forum, enhancing spin-out formation, technology licensing & business mentoring and the expansion of support services, such as the business incubation space, will add to enterprise support that Ignite TTO provides.
Dr Daniel O'Mahony, Consultant Advisor, Ignite TTO, said "NUI Galway's investment in research and technology commercialisation exceeded €46m in 2007. When people think of Ignite TTO we want them to equate it with the birth of new technologies, the emergence of new breakthroughs, an endless source of innovation, a fountain of future commercial prospects. It will excite the imagination and attract entrepreneurs to our sandbox of commercially viable offerings. In time it will represent a place of excellent research giving way to excellent technologies and thereafter to commercial success. "
NUI Galway has a long standing involvement with the promotion of indigenous enterprise and the direct provision of services to locally based industry. More than 40 collaborative projects with industry were secured in 2007, generating over €2.3m, as well as the establishment of a new entrepreneurial forum with a view to providing researchers and emerging entrepreneurs the fundamental knowledge and skill set required in the pursuit of enterprise development. Ignite TTO has a strong focus on market assessment and delivery of tailored solutions and technology offerings to market on time.
During the last year, following licensing of technologies and intellectual property, a number of start-up companies were formed from NUI Galway including Eirzyme Ltd, Theta Chemicals Ltd. and Syncrophi Ltd. Numerous other spin-out companies are at late stage negotiation.
Summary of Some Key Achievements in 2007: 1. €46M spent on research in 2007 2. Twenty four Option & License Agreements executed in 2007 3. Thirty patent applications 4. Four spin-out companies in past 12 months 5. >40 collaborative projects with industry (start-ups, SMEs and MNCs) 6. Six bio-incubation labs and a core equipment lab for Life Science companies created 7. Launch of Campus Commercialization Program and Start-up-Solutions to promote enterprise development 8. Funding for new graduate programmes in Entrepreneurship and Innovation
Dr Neil Ferguson, Ignite TTO Commercialisation Officer, said, "There is a real sense of entrepreneurial spirit and innovation among businesses in the west of Ireland, matched by the cutting-edge research taking place on campus. The encouragement of our future entrepreneurs is critical to the sustained economic prosperity. The Ignite TTO team is there to lend a helping hand to entrepreneurs in our University and region as they take the first steps in bringing their technology concepts to commercial reality".
This is a vibrant and stimulating time to be part of Ignite TTO where National University of Ireland, Galway has developed an attractive portfolio of technologies suitable for licensing, spread across life sciences, biotechnology, medical devices, ICT, engineering and many more. For further information please visit Ignite TTO at www.nuigalway.ie/tto or contact the TTO team on 091-492147